Orsu Metals Corporation

Orsu Metals Corporation

April 21, 2015 02:00 ET

Orsu Metals Corporation: Expiry of Options

LONDON, UNITED KINGDOM--(Marketwired - April 21, 2015) - Orsu Metals Corporation ("Orsu" or the "Company"), the London-based dual listed (TSX:OSU)(AIM:OSU) base and precious metals exploration and development company, today announces that 9.75 million options to purchase common shares under the Company's Amended and Restated Stock Option Plan (the "Option Plan") have now expired. The options were granted in April 2010 at an exercise price of CAD$0.25, exercisable for a period of five years. Detail of all options held by Directors of the Company which have expired and the resultant number of options remaining after expiry is provided below.

Name of Director Number of options expiring/cancelled Number of options after expiry
Dr Sergey V Kurzin 2,500,000 Nil
Dr Alexander S Yakubchuk 2,500,000 Nil
Mark Corra 750,000 Nil
Massimo Carello 750,000 30,000
Tim Hanford 750,000 Nil
David Rhodes Nil 500,000
Total 7,250,000 530,000

The balance of the expired options comprises 2.5 million options issued to officers and employees of the Company and consultants. Following the expiration of the options discussed above, the Company has 1,360,000 options outstanding under its Option Plan, and 12,500,000 warrants to purchase common shares.

The expired options are available for re-issue under the Company's Option Plan, subject to total options outstanding not exceeding 10% of the number of common shares in issue with voting rights, which is 182,696,049 as at the date of this announcement.

Contact Information

  • Orsu Metals Corporation
    Kevin Denham
    Chief Financial Officer and Company Secretary
    +44 (0) 20 7518 3999

    Canaccord Genuity Limited
    Ryan Gaffney or Henry Fitzgerald O'Connor
    +44 (0) 20 7523 8000

    Vanguard Shareholder Solutions
    +1 604 608 0824